Biffa plc (LSE:BIFF) entered into an agreement to acquire the Collections business and certain Recycling assets from Viridor Waste Management Limited for approximately £140 million on May 21, 2021. Under the terms of the consideration, the transaction will be settled in a cash payment of approximately £130 million plus assumption ofa lease amounting to £17 million. The consideration is to be funded from £150 million of new seven and ten year private placement facilities from MetLife Investment Management and Pricoa Private Capital. The Recycling assets of Viridor reported an EBITDA of £16 million for FY21. The transaction is subject to approval from Competition and Markets Authority. The transaction is expected to close no earlier than August, 2021. Biffa expects underlying EPS accretion of around 3 pence per share once synergies have been realised. HSBC Bank plc and N M Rothschild & Sons Limited acted as financial advisor for Biffa. Jason Radford, Richard de Carle, Karen Davies, Cameron Smith, John Gordon, Nicholas Gardner, Jamie Chapman, Eleanor Reeves and Claire Dutch of Ashurst LLP acted as legal advisor for Biffa plc. Simpson Thacher & Bartlett LLP acted as legal advisor to Viridor Waste Management Limited. UBS acted as financial advisor in the transaction. Jeff Twentyman, Samantha Brady, Ed Hunnisett and Hugh Gittins of Slaughter and May acted as legal advisors for Viridor Waste Management Limited. As of July 5, 2021, the transaction is expected to be completed on August 31, 2021. Biffa plc (LSE:BIFF) completed the acquisition of Collections business and certain Recycling assets from Viridor Waste Management Limited on September 1, 2021.